Odds are Now Stacked Favoring the Bitcoin Bulls

The long-term indicator for the
Bitcoin price has risen for the first time in the whole year. The 200-day moving average is the widely used
indicator to decide on the long-term market trend. The 200-day MA has confirmed a long-term
bearish-to-bullish trend.

When calculating the moving
averages, the past data is taken into consideration. The short-term corrective prices are also
considered. In cases where the price
moves below the MA, it will weaken the long-term bullish outlook. The odds are now stacked favoring the Bitcoin
bulls.

Iranians have been blocked from
LocalBitcoins, and Iranian users have been experiencing problems in posting and
executing trades. This move is probably
related to sanctions. Investors are
experiencing the sting of the sanctions.

In response to queries, the
website posted, “If you have an account already, you will be able to withdraw
your Bitcoin, but you will not be able to use the platform for trading.”

This move has triggered several
Iranians to move towards exchanges which are truly decentralized so that they
won’t discriminate based on nationality.

Bitcoin, Ethereum and Litecoin
have survived for quite long now. They
have as well sustained strong positions.
Each of these tokens has unique attributes, and they are capable of
competing in a volatile environment.

Vitalik Buterin, stated, “We
need the first step toward more privacy.” He reinstated about the importance of
obscuring user activity on the blockchain.
He has been talking about a “minimal mixer design” which is focused on
obfuscating the address of the user when transacting in fixed quantities of
Ether.

He further detailed that “The
transactions you make to send ETH to those addresses themselves reveal the link
between them.”

He was talking about facilitating
“the mixer and the relayer registry” which users will be able to use to make
private transactions on the Ethereum blockchain. This is known as the anonymity set.

Conner stated, “The goal is to
make a solution that can be easily integrated into current wallets.” “Strengths are it gives us a solid privacy
solution if users want it.”

The good thing is that this
design does not require the users to pay any fees, also known as the gas
cost. This is to send private transactions.

Buterin tweeted about the design
and stated, “The main use case I’m thinking of is a one-off send from one
account to another account so you can use applications without linking that
account to the one that has all your tokens in it. So even though it is a 2m
gas cost, it only needs to be paid once per account, not too bad.”